Company Valuation: Swisscom AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 26,657 26,243 26,212 26,134 29,812 32,040 - -
Change - -1.55% -0.12% -0.3% 14.07% 7.47% - -
Enterprise Value (EV) 1 34,363 33,617 33,283 41,731 45,445 47,581 47,336 46,770
Change - -2.17% -0.99% 25.38% 8.9% 4.7% -0.52% -1.2%
P/E 14.5x 16.4x 15.3x 16.9x 23.5x 23.3x 21.5x 19.6x
PBR 2.47x 2.35x 2.26x 2.15x 2.44x 2.61x 2.62x 2.7x
PEG - -1.3x 2.25x -1.71x -1.3x 2.87x 2.55x 2.04x
Capitalization / Revenue 2.38x 2.36x 2.37x 2.37x 1.98x 2.18x 2.19x 2.19x
EV / Revenue 3.07x 3.03x 3.01x 3.78x 3.02x 3.23x 3.23x 3.2x
EV / EBITDA 7.66x 7.63x 7.2x 9.58x 6.87x 7.13x 7x 6.78x
EV / EBIT 16.6x 16.5x 15.1x 21.4x 23.6x 22.9x 21.3x 19.6x
EV / FCF 19.5x 24.9x 22.5x 29x 31.7x 34.2x 30.5x 24.4x
FCF Yield 5.12% 4.01% 4.45% 3.44% 3.15% 2.93% 3.28% 4.09%
Dividend per Share 2 22 22 22 22 22 26.95 27.97 28.92
Rate of return 4.28% 4.34% 4.35% 4.36% 3.82% 4.36% 4.52% 4.68%
EPS 2 35.37 30.93 33.03 29.77 24.54 26.53 28.76 31.53
Distribution rate 62.2% 71.1% 66.6% 73.9% 89.6% 102% 97.2% 91.7%
Net sales 1 11,183 11,112 11,072 11,036 15,048 14,716 14,662 14,633
EBITDA 1 4,484 4,406 4,622 4,355 6,617 6,676 6,758 6,894
EBIT 1 2,066 2,040 2,205 1,951 1,925 2,082 2,226 2,392
Net income 1 1,832 1,602 1,711 1,541 1,271 1,441 1,531 1,697
Net Debt 1 7,706 7,374 7,071 15,597 15,633 15,542 15,296 14,730
Reference price 2 514.60 506.60 506.00 504.50 575.50 618.50 618.50 618.50
Nbr of stocks (in thousands) 51,802 51,802 51,802 51,802 51,802 51,802 - -
Announcement Date 2/3/22 2/8/23 2/7/24 2/13/25 2/12/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.22x1.3x4.02x7.14% 221B
8.75x2.32x6.22x6.7% 176B
12.99x2.1x5.52x4.32% 144B
12.86x2.02x5.09x2.42% 78.08B
11.75x1.73x7.42x3.66% 74.43B
11.88x0.77x2.87x6.79% 72.57B
15.52x2.7x8.46x5.07% 57.81B
23.68x5.34x19.5x4.52% 55.69B
15.15x2.73x6.25x4.51% 49.01B
Average 13.76x 2.33x 7.26x 5.01% 103.1B
Weighted average by Cap. 12.48x 2.08x 6.27x 5.49%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield